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		</div><p>Katie Price has been declared bankrupt at a court in London.</p>
<p>The former glamour model avoided bankruptcy in December last year after agreeing a plan to pay back what she owes. But, at a hearing in London on Tuesday, a judge declared her bankrupt.</p>
<p>Judge Jonathan Middleton, sitting at a specialist insolvency and companies court, said: <em>“I do judge Ms Price to be bankrupt.”</em></p>
<p>The 41-year-old, formerly known as Jordan, was once said to be worth more than £40 million.</p>
<p>At a hearing in October last year, she was given time to negotiate a deal with the taxman over her finances and her proposal for an Individual Voluntary Agreement (IVA) was accepted on November 30.</p>
<p>An IVA is a formal agreement which lets people with debt repay their creditors at an affordable rate in a bid to avoid bankruptcy.</p>
<p>However, the renewed bankruptcy proceedings were brought after she failed to meet the terms of the agreement.</p>
<p>According to The Daily Mail, a trustee could be appointed to sell off her assets, including her £2 million mansion in West Sussex.</p>
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